As mentioned in the previous article, CP11/2 contains a summary business plan for 2011/12.
Traditionally the FSA issues an annual Financial Risk Outlook (FRO) late January/early February – although last year’s FRO for 2010 wasn’t released until 10 March (see Regulatory Roundup 10) with the annual Business Plan (BP) following a week or so later.
The FRO contains an outline of the main risks and issues present in the operating environment affecting firms, markets and consumers. The BP sets out the FSA’s programme of work to address the risks highlighted in the FRO.
The consultation paper tells us that the FRO will be replaced by two new documents: the Prudential Risk Outlook (PRO) and the Conduct Risk Outlook (CRO) and are expected in ‘February and March’. The BP remains as one document and is due to be published next month.
